We've gotten a ton of questions surrounding USICS and DHS's proposed International Entrepreneur Rule, so we've taken a crack at explaining the proposed rule in plain English.
The International Entrepreneur Rule grants parole to non-US entrepreneurs in order for them to work for their U.S.-based startups for an initial period of two years. Entrepreneurs can then add one additional period of re-parole for three years, totaling five years. This totals five years for a maximum of three entrepreneurs at a startup.
Entrepreneurs will have to argue and prove three criteria:
1. That their Company is a start-up;
2. That they are an Entrepreneur;
3. That they've gotten substantial capital from qualified investors.
If you think that you can meet all three criteria, you'll need to fill out an application form and pay a $1,200 filing fee and an $85 biometric fee. You'll then submit evidence and can expect 5 months (150 days) for USICS to decide. You'll then wait 3 months (90 days) to schedule an appointment to submit biometric information (fingerprints and photos). You'll also have to pay yourself a salary of at least $47,520 once USICS grants parole.
If you believe that you meet the criteria and think you're a good candidate for the PE-1, head over to www.visapreneur.com/PE-1 to check out a beta version of a tool that will help you assemble all of the documents for the application.
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